The S&P 500 rose 0.2% on Monday, Jan. 13, 2025, ahead of this week’s inflation data and the first wave of earnings reports from major US banks.
Shares of Moderna plummeted after the biotech firm cut its 2025 revenue guidance due to uncertain vaccine demand. Managed care companies, however, moved higher following the government’s proposal to raise Medicare Advantage reimbursement rates next year.
The Dow was up 0.9%, while the Nasdaq slipped 0.4%. Mosaic shares jumped 8% after announcing an agreement to sell its phosphate mine in Brazil, while CF Industries rose 7.6% after Piper Sandler upgraded its stock to “overweight”. Revvity’s automated test for free testosterone levels received regulatory approval, and shares gained 7.8%.
Healthcare companies with managed care exposure saw significant gains following the government’s proposal. CVS Health jumped 7.3%, while Humana shares rose 6.8%. In contrast, Moderna’s shares plummeted 16.8% after slashing its revenue guidance. Edison International’s shares dropped 11.9% on Monday due to wildfires in Southern California, and Constellation Energy’s shares sank 8.5% following the announcement of a rival acquisition deal.
Source: https://www.investopedia.com/s-and-p-500-gains-and-losses-today-moderna-plunges-after-big-cut-to-sales-forecast-8773378